Aquabotix Goes Public on ASX

UUV Aquabotix Ltd, an Australian company, is conducting an IPO of the Aquabotix business on the Australian Securities Exchange (the ASX) and will operate the underwater robotics company going forward.

The company is headed by CEO and Aquabotix’s founder Durval Tavares, formerly with the United States Naval Undersea Warfare Center and then Fidelity Investments.

Aquabotix is backed by a U.S. institutional investor that also supported the recent Australian IPO of DroneShield Ltd.

The company is aiming to raise A$5.1 million to A$7 million in connection with an IPO to facilitate a listing on the ASX through the issue of up to 35 million shares at an issue price of A$0.20 per share, with offers due to close on April 19, 2017.

Funds raised from the IPO will be used for to establish an in-house sales force, expand the company’s distributor network (and establish a global distributor network), develop distribution in the company’s target geographic and industry markets, develop its pre-sale and post-sale support capabilities, and expand its executive team, with a particular focus on business development.

In addition, the funds will enable the company to further scale Aquabotix’s existing technology, adapt its products to meet customer demands as they arise, develop its product range and expand its manufacturing capability.

Share this article

Follow Subsea World News

Events>

<< Jan 2020 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

Shallow and Deepwater Mexico Exhibition and Conference

Shallow and Deepwater Mexico, an offshore oil and gas exhibition and conference is the key center for the international offshore oil and gas community in Mexico. 

read more >

Underwater Intervention (UI) 2020

Underwater Intervention Conference is a conference where oil and gas industry professionals, senior decision…

read more >

Subsea Expo 2020

Subsea Expo is the world’s largest subsea exhibition and conference and is completely free to attend.

read more >

Oceanology International 2020

Exhibitors from industry, government and research institutions share their knowledge and come…

read more >